Crypto Liquidation Hit $238 Million As High Leverage Traders Faces The Heat
The post Crypto Liquidation Hit $238 Million As High Leverage Traders Faces The Heat appeared on BitcoinEthereumNews.com.
In the last 24 hours, liquidations from Bitcoin (BTC) and other crypto have soared as high as $238 million. At the time of this writing, CoinGlass data confirms that 80,028 traders were liquidated during this time, and the total liquidation total was $238.94 million. It is worth noting that the largest single liquidation order happened on Bitmex. This massive single transaction was in ETHUSD and valued at $22.71 million. Interestingly, the liquidation coincides with an industry-wide price rebound following Donald Trump’s victory in the United States 2024 presidential elections. Crypto Liquidation Figures in 24 Hours Ethereum, the second-largest cryptocurrency by market cap, is leading the liquidation on all time frames. The one-hour chart shows that over $808,430 worth of ETH were liquidated on different exchanges. In 24 hours, $61.09 million in liquidation was recorded for Ethereum. While short positions accounted for $47.64 million, long positions had $13.45 million in liquidation. – Advertisement – Ethereum is followed closely by Bitcoin, which has a market capitalization of $55.22 million. BTC has short position liquidations of $26.37 million and long positions worth $23.85 million. Other altcoins, including Solana (SOL), Dogecoin (DOGE), XRP, and even PEPE, saw up to $23.76 million in liquidations in the last 24 hours. NEIRO, a self-acclaimed Dogecoin successor, also featured in the liquidation, recording up to $7 million. A huge part of all these liquidations came from leading cryptocurrency exchange Binance. Market Rally to Date, Bitcoin, And Ethereum Price Trends In the face of renewed market momentum, Bitcoin’s price has reached a new all-time high (ATH). The flagship cryptocurrency trades at $76,172.24, corresponding with a 1.42% increase in the last 24 hours. The BTC market cap has pushed further higher and is now at $1.51 trillion. Ethereum is closer to hitting $3,000 after its more than 16% surge in the past week. CoinMarketCap…
Filed under: News - @ November 9, 2024 2:26 am